Specific government programs together with Dalrada Financial own specialized financial products can be utilized to limit the employer and employee tax exposure. Dalrada Financial will tailor a solution for your company that fits your needs.
A Flexible Benefit Program:
This unique benefit is a win-win situation for all concerned. Health and Childcare benefits are provided pre-tax for both the employer and employee. The employee benefits by being able to afford numerous associated costs not covered under health insurance and this, in turn, automatically lowers the employer's tax. Dalrada Financial assumes all administrative fees.
- $3,500 annual out-of-pocket medical, dental and vision deductions
- $5,000 Childcare pre-tax deductions
- Between 10% - 25% savings on payroll taxes for all employees
- Employer savings on payroll taxes
Tool Reimbursement Program:
Dalrada Financial will help our clients set up and run a tool expense reimbursement account for each employee who purchases tools and uses them to perform their duties on the job. Expense Reimbursement for tools is a way to give cash back to employees as a non-reportable, non-taxable form of income. Dalrada Financial will substantiate and properly account for a portion of income as an expense reimbursement for any tool, equipment or job related expenses that an employee incurs. The tool expense reimbursement portion of their income will be paid to qualified employees upon substantiation of hours worked with the tools.
132 Transportation Fringe:
The transportation Equity Act for the 21st Century allows employers to offer employees the opportunity to set aside a portion of their salary to pay for certain transportation expenses. The employee is not taxed on amounts set aside and used for qualified expenses (that is, pre-tax dollars are used to pay the commuting expenses.)
Qualified transportation expenses generally include payments for the use of mass transportation and for parking.
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